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Carbondale Reporter

Wednesday, November 27, 2024

Former state university employee Dunn paid in $206K to pension fund, could collect $7.23M in retirement

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Former state university employee Randy Dunn, who retired in August 2018, saved $205,760 toward a pension over 15 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Dunn would collect as much as $7.23 million, according to a projection by Local Government Information Services (LGIS), which publishes Carbondale Reporter.

The projection assumes Dunn received $152,034 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Dunn will have already received $308,629 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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